3 Reasons to Review Your Texas Homeowner’s Policy

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Ideally, you should review your home owner’s policy annually to ensure you have the best price and appropriate coverage. There are other times you may want to check in with your agent to see if you need to make changes. 

Your home value increased.

Whether by market value or recent improvements, if your home value has increased notably over the value the policy was written for, you want to be sure that a claim made on that policy will be enough to replace your home. Otherwise, if your home is damaged, you’ll wind up paying for the gap out of pocket. 

Additionally, if you add features like a pool, hot tub, trampoline, or backyard play equipment, you might want to boost your liability coverage if someone is injured. 

Your family expanded.

With new bodies comes new items. Anytime you have a significant increase in personal property, you’ll want to update your home inventory and discuss your policy limits with your agent to ensure you are adequately covered. A good time to do this is when you bring a new baby home or merge households. New people increase the number of electronics and valuables in the house and increase your potential liabilities. 

You might also want to check with your agent before purchasing a new pooch. Some insurers have breed restrictions, and which breeds are restricted can vary between providers, so it’s worth checking in to make sure you have liability protection. 

You’ve added security. 

Alarm systems and home monitoring systems have never been so accessible and affordable for consumers. If you are one of the many looking to increase your property’s security, reach out to your agent to determine if the system you are considering might result in a discounted premium. 

In Highland Village, TX, homeowners looking to get the most out of their insurance policy should call or visit Thompson Insurance Services today.

Texas Collision Auto Insurance: 3 Defensive Driving Tips to Avoid Collisions

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Defensive driving is a technique that savvy drivers use to be proactive about their safety when they are on the road. It is about thinking and planning ahead, even if you are only planning one minute ahead of you. It is a kind of driving taught by many driving schools, as it helps to avoid collisions and save lives. 

At Thompson Insurance Services, we want Highland Village TX drivers to be safe on the roads. Use these easy defensive driving tips to avoid accidents and claims on your Texas collision auto insurance.

Keep Scanning

It is not uncommon to have something run out in front of you when you are driving, or even have a car make a quick lane change or turn before you see it coming. Keep scanning every minute that you are driving.

You won’t be able to see everything all of the time. However, you will be able to catch anything that could impede your way on the road if it should happen. So many accidents can be avoided with this tip.

Brake Early

Braking early, and slowly, are defensive driving techniques that could save your life. This is all about giving space on the roads. To you, to other drivers, to the road. Slow down as early as you can, as often as you can, particularly in bad conditions. 

When you brake slowly and early, you give yourself time to think as well. If something is happening on the road, a slow brake method helps you to reason through the situation and avoid a catastrophe.

Have an Out

This defensive driving technique will hone your intuition on the road. Having an out on the road is having an idea of where you would drive if an accident happens. For many, the out is to the right. If you are in the farthest right lane, for example, having an out would involve swerving to the right onto a sidewalk if you have to or even a ditch.

The out is a space where no cars are located. You still might be in a precarious position. But you could avoid a collision by swerving to your “out” if a sudden problem came up. You would spot this problem if you were always scanning around you, and behind you.

Get Collision Insurance

When you are driving defensively, the mindset is a mindset of avoiding collisions. Collision insurance can give you peace of mind on the roads when you are using these tips. At Thompson Insurance Services, we want Highland Village, TX drivers to be prepared for every driving scenario that could lead to a collision. Call us for a quote today to make sure your policy is as thorough as it needs to be.

2 Surprising Moments to Review Your Home Insurance

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There are obvious times to review your home owner’s insurance. Here are a few surprising things that can impact your policy and its premiums in Highland Village, TX. 

Wood and Pellet Stoves

  • If you are considering installing or removing one, reach out to your insurance agent to discuss the impact it will have on your premiums. Homes that contain either type of stove are more at risk of fire damage, which can increase the cost of your policy. They may also require professional installation. If you are determined to have the crackle of a fire no matter the price, remember these three tips to reduce your household risk: 
  • Have your fireplace inspected annually to determine maintenance issues and clean the chimney once a year to prevent residue build-up. 
  • Keep rugs, drapes, and other flammables away from your fireplace. Keep a screen up to keep sparks and ash inside of the fireplace and not on your floors.
  • Use seasoned, properly dry hardwood. It will burn longer and cleaner, producing less soot. 

Man’s Best Friend

Dogs are great companions, but they can impact your insurance premiums. Texas homeowner’s policies will typically extend liability protection in the event the family dog bites a visitor. However, it’s important to note that many providers have breed restrictions. If you are in the market for a new dog, review your provider’s restricted breed list. However, know that not all insurers use the same list, and some insurers don’t look at breed at all. So if you have your heart set on a specific puppy, it’s worth shopping around. 

If you are ready to review your policy to ensure your coverage meets your needs, call or stop by Thompson Insurance Services today.  

Do I Need Auto Insurance on my Second hand Car?

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Suppose you have been eying a car of your dream, but it’s too expensive when bought brand-new. As a result, you have decided to settle on a used car — of course you get the same car minus the smell of new leather and warranty. But either way, purchasing a second-hand car is an excellent option because it’s affordable, and you take the vehicle when much of the depreciation has been shouldered by the first owner.

Anyway, enough about second-hand car purchases. Let’s talk about insurance. Do you need auto insurance for your used car? If yes, what kind of coverages should you purchase? If you would like to find out, keep reading as Thompson Insurance Services in Highland Village, TX, provides insights.

Is second-hand car insurance required?

Whether driving a new or second-hand vehicle in Texas, you must purchase auto insurance. Failure to buy auto insurance leads to numerous fines and penalties, including license suspension. But is it worth it? You don’t have to learn the hard because you can purchase affordable auto insurance from Thompson Insurance Services.

When should I purchase my auto insurance?

Before purchasing your vehicle, you must buy auto insurance beforehand. Why? You must have auto insurance before driving your car off the yard. Besides, you need to understand how much auto insurance costs to avoid scenarios where you purchase a vehicle only to realize you can’t afford the premiums.

What car insurance options are available for my second-hand car?

Car insurance is broad — there exist many coverages to consider. The typical car insurance coverages to consider for your used car include:

  • Comprehensive and collision coverages
  • Liability coverage
  • Uninsured/underinsured coverage
  • Medical payments coverage
  • Roadside assistance, and so on

Buy car insurance today!

Are you shopping for car insurance in Highland Village, TX? Would you please make Thompson Insurance Services your preferable insurance agent for all your auto insurance needs?

What Are The Pros and Cons of Umbrella Insurance?

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Umbrella insurance is a secondary type of insurance that kicks in when primary policies reach their limits. Umbrella insurance also covers unusual cases and expenses that are covered by primary insurance. This type of insurance is like additional protection that has many benefits. However, there are also certain limits that need to be taken into consideration. Thompson Insurance Services, an insurance serving clients in Highland Village, TX, prepared a list of pros and cons of umbrella  insurance:

Pros and Cons of Umbrella Insurance

Here is a list of advantages and disadvantages of umbrella insurance. 

Pros:

  • It protects your assets. If your auto or home insurance gets exhausted, you can be left with a huge amount of expenses to take care of. However, if you have umbrella insurance, these expenses will be covered.
  • There are flexible coverage options. With umbrella insurance, you can scale up or down your insurance needs depending on the primary insurance options. For example, if your primary insurance policy does not cover false arrest or libel, umbrella insurance will cover them. 
  • It protects you from expensive lawsuits. Today, getting a lawsuit is quite common, especially if you are a public figure or own a business. Umbrella insurance helps you protect yourself from liability claims.

Cons: 

  • It is not available without primary insurance. In order to purchase umbrella insurance, you have to buy a home or auto liability first. 
  • It is an additional expense. Umbrella insurance costs money, and it can be expensive. 

Thompson Insurance Services in Highland Village, TX – We Help You Get Insurance You Really Need 

Umbrella insurance is not a mandatory type of insurance, meaning that you do not have to purchase it. However, it is still good to have it in order to be fully protected against unexpected circumstances. If you are thinking of getting this type of insurance, and you are looking for a trustworthy insurance agency, Thompson Insurance Services is ready to assist you. Do not hesitate to call us – we are always here for you. 

4 Areas Covered by Home Insurance

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Whether you are in the process of purchasing a new home or you already have a home in Highland Village, TX, investing in homeowner’s insurance from Thompson Insurance Services should not be an option if you want peace of mind. And that’s not all. Home insurance protects you in many other ways. Here are some areas covered by home insurance

Dwelling protection

One of the things that your homeowner’s insurance protects is the physical structure of your home. Home insurance covers your building’s walls, house foundation, roof, and so forth. Also, structures linked to your home are covered at an additional premium. 

Personal property coverage

Other than protecting your home, homeowners insurance also shields the content inside your home. Home insurance covers personal assets, including furniture, electronics, appliances, and clothing. Besides, high-value items like art and jewelry are covered, although up to a specific limit. 

Liability protection

If someone who is not a member of your family comes to your home and suffers bodily injuries, your homeowner’s insurance should cover their treatment or hospitalization costs. Similarly, home insurance covers property damage that you or your family members may cause to other people. 

Loss of use coverage

When you least expect it, an event can occur and render you homeless. For example, a fire accident can consume your entire house, leaving you without a home. When this happens, you have no other better option than to look for a temporary living place, incurring unexpected costs in the process. 

Thankfully, with a home insurance policy, the relocation process will be a breeze as it facilitates costs exceeding your day-to-day expenses. 

Buy home insurance in Highland Village, TX

Now that you have a clear understanding of what homeowners insurance covers, why not buy it today? It’s simple — you only need to contact Thompson Insurance Services and get covered today!

Does Renters Insurance Cover Your Work-at-Home Business?

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The list of entrepreneurs keeps growing as more and more are starting home-based businesses in Highland Village, TX. As a home-based business owner, you may be pondering over whether to get business insurance. Additionally, if you have renters insurance, you may wonder if your business has any form of coverage. 

Continue reading to learn more about if your renters insurance policy covers your work-at-home business, and then give us a call at Thompson Insurance Services for additional information and available coverage. 

Does My Renters Insurance Cover My Work-at-Home Business? 

As a business owner, it is essential to understand that your renters insurance policy does not cover home-based businesses. Therefore, those who have a home-based business need to work with an insurance professional to learn more about the different types of insurance available to protect their business. Without proper coverage, you may find yourself in a situation having to pay for medical costs due to an injury, or you could find yourself battling a lawsuit. 

What Coverage Is Available for My Home-Based Business? 

The type of insurance coverage needed depends on the business, what inventory you carry, and any equipment inside your residence. Available insurance for home-based businesses includes business property insurance, liability insurance, professional liability insurance, product liability coverage, and business automobile insurance. To determine which coverage is needed, speak with an insurance agent today to learn more about the different options.

Working from home in Highland Village, TX offers you plenty of flexibility and opportunity to be your own boss. Call the experts at Thompson Insurance Services for additional information about your renter’s insurance coverage and how to protect your work-at-home business. 

Is It Time to Upgrade My Auto Insurance?

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Ask most car owners when the last time they updated their car insurance, and they will stare at you with surprise. Many motorists rarely upgrade their car insurance. All they do is renew their policies without scrutinizing whether their current needs are captured. If you are such a car owner, please listen to Thompson Insurance Services of Highland Village, TX, as they share reasons that may necessitate you to upgrade your auto insurance policy. 

When you change the use of your car

Are you using your vehicle to run business errands? It would help if you upgraded to commercial auto insurance. Texas requires businesses to purchase commercial auto insurance for all business vehicles. As such, if you use your personal car to run business operations, you need to upgrade to commercial auto insurance to protect your vehicle and driver when accidents occur.

 

When you are letting go of your current car 

There are numerous reasons you would want to part with your current car. Perhaps, you are looking to upgrade, downgrade or your lease has expired, and you need to figure out what to do next. Whatever the reason, you need to update your auto insurance to ensure that your current needs are taken care of. 

If you upgrade to a newer, more expensive car, you need to update your auto insurance, especially if financed by a bank. While you may transfer your old auto insurance to your new car, you may need to upgrade to include more coverage. 

When you let a teenager drive your car

When you decide that your teenage son or daughter should drive your car, you need to add them to your auto insurance policy. Since teenagers are considered risky drivers, you need to inform your insurer to adjust your premiums accordingly.

Are you still not sure whether to upgrade your car insurance in Highland Village, TX? Please contact Thompson Insurance Services for guidance.

What is Umbrella Insurance Used For?

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Sometimes, you just need to cover all your bases or add some extra coverage above and beyond standard policies. Thankfully, there is umbrella insurance. Umbrella insurance is exactly what you expect it to be—a little coverage over your head in the event of a storm (which often happens in life). And because life can be unpredictable at times, you want to make sure that everything is covered to the fullest that is appropriate for you and your needs.

At Thompson Insurance Services in Highland Village, TX, servicing Texas, Arizona, and Nevada, we understand the need for something dependable that goes more than just standard coverage, and we can help you explore your coverage options. Just because the likelihood that you find yourself in a drastic scenario, it is never impossible. And with the ever-changing world we live in, it can be comforting to know that you are protected when life throws a wrench in the mix.

Umbrella insurance policies can be greatly beneficial. Speaking with a Thompson Insurance Services agent can help you find out if you would be best served by getting an umbrella insurance policy. Here are some of the benefits of umbrella policies:

Extending Coverage:

  • Property damage: in the event of extensive damage to your car or home in an accident or disaster, your standard insurance policy may not cover the liability or the cost of repairs
  • Bodily injury: homeowner’s insurance can be exhausted quickly if there is a serious injury to you, your family, or any guests on the property
  • Landlord liability: if you own property and rent it out to tenants, you can be held liable for any injuries they sustain on the property. Umbrella insurance can protect you against the extensiveness of your liability

Legal Coverage:

  • Slander/Libel: umbrella insurance can help you cover liability if there is litigation against you for any abusive or implicating statements made to another individual in terms of their character
  • Malicious Prosecution/Intention lawsuit: umbrella insurance can help financially if you find yourself in a pickle with a case against you for malicious prosecution

Covering Others:

  • Animal attack: If your dog, cat, or other household pet seriously harms another individual, umbrella insurance can help cover you from paying everything out of pocket
  • Harm to another: any physical altercations or well-intended acts gone wrong (food poisoning, allergic reaction, etc.) can be covered with the help of umbrella insurance
  • Serious automobile situations: if there is a major accident, and you are at fault, umbrella insurance can help cover all harmed parties, or if someone under your care is arrested for driving under the influence, umbrella insurance can be helpful

 While umbrella insurance is by no means (or rarely) required to have, it is a nice little supplement to existing policies. When life hands you lemons, we here at Thompson Insurance Services want to help you make lemonade. Umbrella coverage is handy to have in your back pocket if you find yourself in a sticky situation and your standard policy does not quite cover everything.

If you currently have an umbrella policy, it can be helpful to find out the exact extent of coverage. Your present umbrella insurance may not cover everything you need or want it to protect in the event of an emergency. If you find that your policy is not a good fit anymore, it may be time to update your coverage.

To find out more about umbrella insurance or to find the right policy for you, please do not hesitate to contact us at Thompson Insurance Services in Highland Village, TX. We service the states of Texas, Arizona, and Nevada, and are here to answer any questions you may have about umbrella insurance. One of our agents can help you explore coverage options and find the best policy for you.

Do All Highland Village Homeowners Need Home Insurance?

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Buying a home calls for a huge investment. As such, you need to protect your home with homeowners insurance. At Thompson Insurance Services located in Highland Village, TX, we often receive several questions about whether home insurance is mandatory in Texas. If your home is financed by a mortgage, your lender is legally allowed to ensure you have home insurance as long as the loan payment is pending.

Types of home insurance coverages available for Texas residents

Whereas the law doesn’t require you to have homeowners insurance, this coverage provides the below protection.

Dwelling coverage: Provides coverage to the structure of your home, including ceiling, roof, walls, floors, and other attachments to your house. As a perils’ policy, it protects your home against the below: 

  • Riots
  • Fire and lightning
  • Falling objects like aircraft
  • Volcanic eruptions
  • Theft
  • Vandalism

Given its limited coverage, you may have to look out for other home insurance options for optimal coverage.

Contents coverage: Covers for personal belongings such as electronics and furniture against fire, vandalism, and theft.

Liability insurance: Provides bodily injury and property damage coverage for incidences that you are legally liable. It covers medical expenses, lawsuits, and property damages that you might have caused.

Outbuildings: Protects structures like sheds, garages, and gazebos, which aren’t permanently attached to your house.

Medical payments: If a person gets injured while within your property, this policy can cover the medical costs.

Flood insurance: Most homeowners have a misconception that home insurance protects them from flood damage. This notion isn’t true. For flood damage protection, you have to purchase separate flood insurance. 

Home insurance for Highland Village, TX residents

While Texas homeowners aren’t required to carry home insurance by the law, it’s super critical to purchase home insurance to protect your invaluable asset. If you are a Highland Village, TX resident and its environs, contact Thompson Insurance Services for your home insurance needs. We offer custom-tailored home insurance policies to meet your needs.